Sensex rose 1017 points to 55,901 and Nifty gained 297 points to 16,649 in the afternoon session on Monday. The markets closed nearly at a one-month high. 

Meanwhile, Tata Motors announced that its subsidiary has signed a Memorandum of Understanding (MoU) with the government of Gujarat for the potential acquisition of Ford India’s Sanand plant. 

Here's all the latest business news.